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New York (APA / APPA-AFX) – The US Treasury has broadly gained much of Wednesday's news, according to US Federal Reserve (Fed) Chairman Jerome Powell. Short-term bonds were particularly strong, while long-term bonds at 30 declined.
The Fed chairman announced a more cautious approach to future interest rate hikes in a speech in New York. According to Powell, the current policy rate is only slightly below the level that can be considered neutral – in which economic growth is neither sustained nor burdened.
The biennial bonds gained 2/32 points to 99 28/32 points, a yield of 2.81%. Five-year bonds rose 4/32 points to 100 2/32 points. Their return was 2.86%.
The 10-year government bonds rose by 2/32 points to 100 20/32 points, yielding 3.05%. Long bonds with a maturity of 30 years have however lost 10/32 points against 100 22/32 points. They gave 3.34%.
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